Austerity budgets are a gift to populists

Across Europe and elsewhere, governments’ embrace of socialism for the rich and austerity for everyone else has fuelled the rise of Maga-like populist movements

In the United Kingdom, France, Poland, and elsewhere, populists have used austerity budget cuts to browbeat 'fiscally responsible' governments. Picture: Sylvain Plazy

Time after time, austerity budgets have provided populist political parties with political openings. In the United Kingdom, France, Poland, and elsewhere, populists have used austerity budget cuts to browbeat “fiscally responsible” governments.

Because of this dynamic, it is hard to believe Elon Musk thought US president Donald Trump’s interest in Musk’s Department of Government Efficiency was motivated by a genuine commitment to saving public money.